The Agricultural Development Bank (ADB) PLC has successfully recovered more than GHS 500 million in non-performing loans (NPLs) in just nine months as part of its aggressive recovery strategy under its two-year corporate plan. From January to September 2024, the bank recovered GHS 514.99 million, largely from legacy bad loans.
This significant achievement reflects ADB’s commitment to cleaning its loan portfolio and improving its financial health through prudent lending and risk management practices. The recovery effort is part of ADB’s broader 360-degree recapitalization agenda, with a focus on addressing years of accumulated bad loans.
Managing Director Alhassan Yakubu-Tali, who has been in office for less than two years, attributed this success to the bank’s enhanced recovery strategy and the expertise of the Recovery Department. The exercise has bolstered shareholder value and contributed to ADB’s financial stability and growth.
“Our proactive approach to loan recovery has paid off. We will continue to work closely with regulatory bodies to maintain the integrity of our loan portfolio and uphold the highest standards of risk management,” Yakubu-Tali said.
General Manager of Recoveries, Sylvia Nyante, emphasized that the focus on loan recovery is yielding substantial results, thanks to the dedication of the bank’s stakeholders and customers. She added that the objective is to ensure the full recovery of all historical NPLs and enhance collaboration with stakeholders.
ADB, one of Ghana’s leading universal banks and a major player in agribusiness financing, has shown strong financial performance, with growth in deposits, profitability, and assets. The bank also received several five-star awards at the recent CIMG Customer Satisfaction Index Report Launch and Awards.
